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Category: Apartments, Case Study Tags: Apartment, Multifamily, Sherman Oaks
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Property Profile

$10,925,000
5060 & 5008 Hazeltine Ave, Sherman Oaks, CA 91423
Leasable Area
39,020 sq. ft.
Year Built
1950's

Challenge

The two properties, built in the 1950’s, are situated in the most sought after location in San Fernando Valley. Located adjacent to the 101 Freeway and Ventura Blvd, the assets offer the tenants access to entertainment, shopping and dining in the immediate area. The seller, a family trust, was looking to maximize the value of their property so it was necessary for Matthews™ to market to the right buyer.

Strategy

The property’s coveted location allowed Matthews™ to position the deal as a prime asset and marketed the deal as a value-add opportunity. Through the utilization of Matthews™ extensive database, the team identified a buyer whose goals closely aligned with the seller’s.

Results

The buyer was hunting for a value-add opportunity with plans to reposition. Representing both the buyer and seller, Matthews™ successfully negotiated a deal that relieved the seller of all management responsibilities and increased their overall cash flow, by exchanging into several triple net properties.

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